Asked by Caden Coulson on May 17, 2024

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Tariffs are intended to make imported goods less expensive and thus less competitive with domestic products.

Tariffs

Taxes imposed by a government on imported and, less commonly, exported goods.

  • Examine the influence of tariffs, quotas, and trade balances on the dynamics of international trade and decisions related to the location of production.
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RR
Rahul ReddyMay 20, 2024
Final Answer :
False
Explanation :
Tariffs are actually intended to make imported goods more expensive in order to protect domestic industries and promote domestic production. This is achieved by placing taxes on imports, making them less competitive with domestically produced goods that are not subject to the same taxes.